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Egypt: Investor frenzy, floating currency stoke boom-bust cycle

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Despite increased foreign investment in Egypt, domestic growth remains weak. Analysts say the country needs to break out of the cycle in which public debt levels go up, followed by years of debt consolidation, only to be hit by an external shock that sends debt soaring again.

Egypt’s President Abdel Fattah al-Sisi arrives in the Abu Dhabi on 18 January 2023, before meeting with the Gulf Cooperation Council states and Jordanian monarch.

over the past few months, buoyed by a currency devaluation and FOMO on the next emerging market success story. Despite a frenzy of foreign investment, domestic growth remains weak, and the private sector is still struggling to access funding, perpetuating the boom-and-bust cycle that has categorised the economy for some time.Nigeria: Opay, PalmPay face scrutiny amid rising appeal

Several fintechs in Nigeria have stopped taking on new customers following a directive from the central bank to curb illicit financial flows.This week’s US-Africa Business Summit kicked off on 6 May with the official launch of the Tanzanian trade office in Dallas, a binational initiative th...Patrick Motsepe, a South African billionaire, met with authorities in Brazzaville, Republic of the Congo, to discuss the launch of his phosphate plant...

 

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